Crowdfunding platform Wadiz appoints IPO advisor
[THE INVESTOR] Korea’s largest crowdfunding platform Wadiz is mulling a listing on the tech-heavy KOSDAQ market next year, according to industry sources on April 4.
The firm has appointed Shinhan Investment Corp. as the IPO advisor.
Founded in 2012, Wadiz occupies 50 percent of the crowdfunding market in the country in terms of the total investment volume. In 2017, it raised a total of 30 billion won (US$28.20 million) for 1,231 projects.
Wadiz is likely to be listed under the so-called “Tesla standards” which allows listing of promising companies that have not yet posted significant profits. After going public next year, the company plans to expand overseas to markets such the Philippines, Singapore and Vietnam, industry sources said.
By Park Ga-young (firstname.lastname@example.org)